Exchange rate of the Euro fell below 80 rubles.

On the Moscow stock exchange continues the strengthening of the ruble. After 13.00 Moscow time the Euro, the rate fell below 81 in the morning. cheaper by 30 cents, bringing the cost for the first time since 6 January 2016 fell below 80 rbl. At the minimum of the value of the Euro fell to 79,94 rubles, which is 1.9 rubles. below the closing level yesterday.

Simultaneously, the exchange rate of the dollar has fallen to a mark 73,57 RUB 1.63 rubles. below the closing level yesterday.

Earlier Tuesday, the Central Bank sharply sharply reduced official rates of dollar and Euro. 2 March the dollar exchange rate established at around 74,0536 rubles, which was 1.85 RUB below the previous value. The Euro immediately reduced by 2.57 RUB. from March 2, it is set 80,5333 RUB.

Analysts attribute the growth rate of the ruble with higher oil prices. During today’s trading on the stock exchange ICE cost of a barrel of Brent crude oil for the first time since 5 January 2016 rose above $37. On the maximum cost of a barrel of Brent reached the level of $37,06 that by 1.34% above the closing level of the previous trading session.

“Optimism in the oil market supports the ruble. However, if the oil will not be able to consolidate its position above $36 in the coming trading sessions, the most likely scenario correction in the area is 75+ on a pair dollar/ruble. Markets will continue to follow the release of data on business activity and signals from the meeting of the countries-manufacturers of oil. The short-term the ruble is seen in the range of 73-77 RUB/USD”, — said an analyst at Nordea Bank Denis Davydov.

Sberbank CIB analysts point out that of particular importance for the market will be today’s meeting between President of Russia Vladimir Putin with the heads of oil companies. “The market expects that its results will sign an agreement about reducing or at least freezing of production”, — stated in the message of Sberbank CIB.

By 13:50 Moscow time the cost of a barrel of Brent was $36,86, the dollar on the Moscow exchange reached RUB 73,668, the Euro — 80,13 RUB.